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AC

Almitas Capital Portfolio holdings

AUM $443M
1-Year Est. Return 42.36%
This Fund
S&P 500
This Quarter Est. Return
-6.08%
1 Year Est. Return
+42.36%
3 Year Est. Return
+85.86%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$301M
AUM Growth
-$155M
Cap. Flow
-$131M
Cap. Flow %
-43.37%
Top 10 Hldgs %
67.47%
Holding
106
New
15
Increased
35
Reduced
17
Closed
25

Top Buys

Rank Stock Value
1
NKTR icon
Nektar Therapeutics
NKTR
+$3.21M
2
CNNE icon
Cannae Holdings
CNNE
+$2.71M
3
MSGS icon
Madison Square Garden
MSGS
+$2.05M
4
DMF
BNY Mellon Municipal Income
DMF
+$1.98M
5
PCQ
Pimco California Municipal Income Fund
PCQ
+$1.85M

Top Sells

Rank Stock Value
1
FETH
Fidelity Ethereum Fund
FETH
+$31.4M
2
OBDE
Blue Owl Capital Corporation III
OBDE
+$27.2M
3
BMEZ icon
BlackRock Health Sciences Trust II
BMEZ
+$17.8M
4
ETH
Grayscale Ethereum Staking Mini ETF Shares
ETH
+$16.2M
5
TPZ
Tortoise Electrification Infrastructure ETF
TPZ
+$11.6M

Sector Composition

Rank Sector Weight
1 Healthcare 10.11%
2 Real Estate 2.48%
3 Financials 1.82%
4 Consumer Discretionary 0.87%
5 Communication Services 0.64%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EDD
76
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$375M
$138K 0.05%
29,256
-6,838
-19% -$32.3K
HEQ
77
John Hancock Hedged Equity & Income Fund
HEQ
$137M
$132K 0.04%
+12,667
New +$132K
GGZ
78
Gabelli Global Small and Mid-Cap Value Trust
GGZ
$122M
$130K 0.04%
+10,800
New +$132K
PYN
79
DELISTED
PIMCO New York Municipal Income Fund III
PYN
$71.1K 0.02%
+12,603
New +$72.8K
HPP
80
Hudson Pacific Properties
HPP
$758M
$52.3K 0.02%
2,533
-10,130
-80% -$212K
ACP
81
abrdn Income Credit Strategies Fund
ACP
$631M
– –
-31,000
Closed -$185K
AEF
82
abrdn Emerging Markets Equity Income Fund
AEF
$329M
– –
-26,327
Closed -$137K
AGD
83
abrdn Global Dynamic Dividend Fund
AGD
$313M
– –
-27,094
Closed -$266K
AOD
84
abrdn Total Dynamic Dividend Fund
AOD
$1.08B
– –
-59,751
Closed -$503K
BKN
85
DELISTED
BlackRock Investment Quality Municipal Trust
BKN
– –
-29,325
Closed -$327K
BNY
86
DELISTED
BlackRock New York Municipal Income Trust
BNY
– –
-28,553
Closed -$291K
DX
87
Dynex Capital
DX
$3.17B
– –
-159,392
Closed -$2.02M
ECAT icon
88
BlackRock ESG Capital Allocation Term Trust
ECAT
$1.48B
– –
-331,140
Closed -$5.43M
GLV
89
Clough Global Dividend & Income Fund
GLV
$77.6M
– –
-19,617
Closed -$106K
HYI
90
Western Asset High Yield Opportunity Fund Inc
HYI
$133M
– –
-64,498
Closed -$762K
IFN
91
Aberdeen India Fund
IFN
$495M
– –
-51,700
Closed -$814K
NLY icon
92
Annaly Capital Management
NLY
$17.3B
– –
-390,718
Closed -$7.15M
OBDC icon
93
PUT
Blue Owl Capital
OBDC
$5.35B
– –
-50,000
Closed -$756K
PNF
94
DELISTED
PIMCO New York Municipal Income Fund
PNF
– –
-20,862
Closed -$155K
PSTL
95
Postal Realty Trust
PSTL
$703M
– –
-66,668
Closed -$870K
SLRN
96
DELISTED
ACELYRIN
SLRN
– –
-148,704
Closed -$467K
THQ
97
abrdn Healthcare Opportunities Fund
THQ
$784M
– –
-18,991
Closed -$358K
THW
98
abrdn World Healthcare Fund
THW
$534M
– –
-34,575
Closed -$381K
TPZ
99
Tortoise Electrification Infrastructure ETF
TPZ
$125M
– –
-576,065
Closed -$11.6M
TWO
100
Two Harbors Investment
TWO
$1.27B
– –
-437,374
Closed -$5.17M
1 2 3
4
5

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HBT
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EFMC
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BFA
Beacon Financial Advisory Cleveland, Ohio $443M AUM 17.02% 1-Year Est. Return
CP
Cornerstone Planning Charlotte, North Carolina $443M AUM
CMP
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PLU
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TC
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DBG
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Almitas Capital's Q1 2025 Portfolio in Review

As of Q1 2025, Almitas Capital held 106 positions worth $301M, down 34% from $456M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Almitas Capital withdrew a net $131M in Q1 2025, closing 25 positions and reducing 17 holdings. Its most notable exit was Fidelity Ethereum Fund, an estimated $31.4M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 10% of assets, up from 7.8% a quarter earlier, followed by Real Estate and Financials.

Against the trend, Almitas Capital opened a new position in Cannae Holdings worth $2.63M.

  • Almitas Capital's largest Q1 2025 buy was Cannae Holdings: 143,651 shares worth $2.63M.
  • Almitas Capital added most to Nektar Therapeutics in Q1 2025, an estimated $3.21M increase.
  • Almitas Capital's biggest Q1 2025 reduction was BlackRock Health Sciences Trust II, cutting an estimated $17.8M.
  • Almitas Capital fully exited Fidelity Ethereum Fund in Q1 2025, selling an estimated $31.4M.
  • Almitas Capital's ten largest holdings make up 67% of its $301M portfolio in Q1 2025.
  • Almitas Capital opened 15 new positions and closed 25 in Q1 2025.
  • Almitas Capital's portfolio value fell 34% quarter-over-quarter to $301M.

Based on Almitas Capital's 13F filing for Q1 2025, filed 15 May 2025.